The top news headlines

The assumption is thrilling: an airliner crashing into a nuclear plant, shattering the walls protecting the nuclear reactor. But this doomsday scenario will not be considered in tests of strength that will be inflicted on European nuclear power plants, according to the German daily Sueddeutsche Zeitung quoted a relative of the European Commissioner for Energy, Günther Oettinger. Only cases of natural disasters (floods, earthquakes, heat waves, etc..) Will be taken into account, the paper stresses that "triumph of the lobby of the atom."

The European Commission is developing a campaign for control of Europe's nuclear installations after the disaster at the Japanese central Fukushima."The safety testing of European nuclear power plants will be launched in June," said the Hungarian EU presidency, citing the European Commissioner for Energy, Günther Oettinger.

Not tested for human error

The tests will be "harsh and objectives," said the Commissioner, and the system of exact criteria will be set next week in Brussels. Under these stress tests, the European Ministers of Energy, met Tuesday in Gödöllö, Hungary, would have excluded the extreme scenarios other than natural disasters, like the fall of an airplane or mishandling human .

It would be a real turnaround. Initially, the Heads of State and Government in Europe had declared in March that all hypotheses are tested on the 146 European reactors.But some countries heavily dependent on nuclear power, like France and the United Kingdom, today defend relief tests. While leaving open the possibility for countries wishing to be more demanding.

European countries seem to approach the proposals of the European Association of Nuclear Regulators (WENR). The latter has published a document on April 21 that serves as a working basis for EU leaders, the Financial Times. It states that only natural disasters (earthquakes, floods, "other natural phenomena) must be taken into account.

Tests conducted by the operators

The WENR also proposes that the tests are not conducted by an independent body but by the farmers themselves. They "are primarily responsible for the safety" of their site, "she argues."It is their responsibility to conduct evaluations, and that of independent authorities to revise them."

As the European Union wants to publish the results of resistance testing before the end of 2011, "operators should, given the constraints of time, rely solely on existing studies and trial of their engineers," says the WENR. The method and extent of stress tests should be adopted in Brussels on May 12 and the results known in December.

ALSO READ:

"Nuclear weapons: draft EPR Penly is down

According to data from Bercy to parliamentarians and Le Figaro has bought, the tax shield has cost an initial estimate, 591 million euros to the state in 2010. These are provisional figures. They help identify trends. First observation, the cost of the device does not seem to slip between 2009 and 2010. At the same time last year, Bercy had estimated the cost of the shield to 586 million for 2009 (the final bill was $ 678 million).

The typology of 14,443 beneficiaries of the shield in 2010 – those whose taxes in 2009 exceeded 50% of their income – is classic. 47% of beneficiaries with low incomes (less than 3467 euros per year). These poor owners are reimbursed for their property taxes. These limited reimbursements accounted for 3% of the cost of the shield.

The 925 households with incomes over 44,980 euros per year and a heritage than 16.5 million have captured 60% of the cost of the shield. The tax paid them an average of 381,000 euros. Without shield, their tax would have been confiscatory. That is why the end of the shield will be accompanied by a reduction of the ISF.

ALSO READ:

"Tax reform: what will change

"ISF: Nicolas Sarkozy has chosen the compromise

At the Paris Bourse, investors have turned their backs on Monday's meeting. On Tuesday, the Cac 40 closed up 0.70% to 3908.58 points. The goal of returning to 3900 points is reached.

In Germany, the DAX index of the Frankfurt Stock Exchange closed up 0.18% to 7039.31 points and in the UK, the FTSE-100 index gaining key values ​​0.46% to 5922.21 points .

The meeting was facilitated by a series of publications. This morning already, Essilor, Faurecia has announced their quarterly sales figures. Tonight, one of L'Oréal is expected.Side economic figures in France, activity in the private sector has increased sharply in April, supported by the services, whose growth reached its fastest pace for over ten years, according to preliminary results of the survey Markit among purchasing managers released Tuesday.

European side, new registrations of passenger cars fell 5% in March on a year within the European Union (EU), show figures released Tuesday by the European Association of Motor Vehicle Manufacturers (ACEA). However, sales have increased in most European markets, notably Germany and France, which recorded a sales gain of 11.4% and 6.1% respectively.

Current accounts of euro area were in deficit by 7.2 billion euros in February, seasonally adjusted data, according to figures released Tuesday by the European Central Bank.

In the U.S., housing starts stand at 549,000 annual rate, while the market was expecting 520,000 after 512,000 in February (revised from 479,000). They display and a recovery of 7.2% over one month after a decline of 18.5% in February.

On Tuesday morning, the euro resumed 0.57% to 1.4310 dollar. Oil prices leave before the end of the afternoon in Paris, after dropping much of the day. on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for May delivery traded at U.S. $ 107.51 (+0.36%).

Faurecia and fly Zodiac

Side values, EDF (5.35% to 28.06 euros) headed the CAC 40 in mid-session.The redemption price of electricity to EDF's competitors is set at 42 euros on 1 January 2012. Eric Besson, Minister of Industry has confirmed the news Tuesday morning on Europe 1.

Faurecia is gaining 4.57% to 25.83 euros.Le group saw sales rise by 24% in the first quarter versus the first three months of 2010, an increase of 15% on a comparable basis.

Zodiac climbed 5.40% to 52.87 euros. Zodiac Aerospace announced Tuesday it raised its forecast operating margin for the year 2010-2011 after having almost doubled in the first half thanks to the recovery confirmed the aviation sector.

LVMH (4.24% to 114.40 euros) saw sales growth accelerate in the first quarter despite the earthquake and tsunami that struck Japan on March 11, while analysts had forecast a slowdown Growth of global luxury goods giant fast cash online.

Michelin (2.01% to 60.88 euros) announced Monday the signing of a Memorandum of Understanding with the Chinese groups and Double Coin Huayi for the creation of a joint venture dedicated to the production of tires for the Chinese market.

Essilor advance slowly from 0.80% to 55.13 euros. Specialist ophthalmic equipment has confirmed its annual targets by announcing Tuesday an increase of 13.4% of its turnover in the first quarter thanks to its good performance in Asia and Latin America.

Archos tumbles

Edenred (-0.79% to 20.17 euros) announced an increase in its turnover and volume of issuance in the first quarter thanks to strong performances in Latin America, while those in Europe are more mixed.

Soitec (+0.09% at 10.66 euros) reported an increase of 34.4% of its turnover in 2010 thanks to a rebound in demand in the fourth quarter and expects a EBIT "slightly positive" for the year.

The manufacturer of glass bottles Verallia, a subsidiary of Saint-Gobain (+0.38% at 43.80 euros), announced Tuesday it had filed with securities regulators its core document, the first stage of its introduction on the TSX Paris.

Audika (1.88% to 20.55 euros) has confirmed its target of annual sales by announcing an increase of 8.6% compared to the first quarter of 2011.

Guyenne & Gascogne (0.90% to 94.95 euros) posted a turnover up 4.5% in the first quarter of fiscal 2011, mainly supported by higher fuel prices in during the period.

Le Noble Age (-2.80% to 14.92 euros) has reported a 11.3% increase from its operating revenue in 2010 to 179.9 million euros and said it expects to 2011 on an increase of 7% at constant perimeter. Its operating profit gained 30.3% to 17.2 million while the group of nursing homes and health facilities was counting on $ 16 million.

April Group (+0.40% to 21.30 euros) on Monday announced the acquisition of the Elco, based in Montreal, a broker specializing in risk of damage for which the activity represented 10.5 million euros the last year. Elco, which employs 80 employees, will be consolidated into its accounts from 1 April.

Theolia (-5.63% to 1.34 euros) announced Monday it had charged an operating loss in 2010, hit by a major disposal plan that has sealed its production of electricity for its own account.

The French designer and distributor of consumer electronics Archos (-14.77% to 7.33 euros) will launch a capital increase of 26 million euros to support its growth.

L'Oreal will publish tonight after the close of trading in its quarterly revenue and Spir Communication, and Transgene aufeminin.com.

Unprecedented situation on the currency market. Despite concerns about the solvency of Portugal, the Euro does not weaken against the dollar. The single currency continues to rise instead initiated in early 2011. On Wednesday, the euro settled above the $ 1.43, its highest level since mid-January 2010. "Having one euro to $ 1.40 – still high – despite the risks that remain sovereign in Europe shows market confidence in the euro area," says Nicolas Forest, head of rates strategy at Dexia AM. Two explanations for this movement.

Firstly, the announcement scheduled for Thursday of rising interest rates the European Central Bank (ECB).In just over three months the euro has risen by more than 10%, from 1.2946 dollars in January to $ 1.43 today, and nearly 3% since the warning of President European Central Bank, Jean-Claude Trichet last March. "Without the tension on the debts of the peripheral countries, the euro could be at even higher levels, close to $ 1.50. Because the rate differential between the ECB (1%) and the Fed (between 0% and 0.25%) is in favor of the euro, "says Nicolas Forest. "In some ways, the problems of debts devices allow the ECB to conduct monetary policy standards at lower cost," says an analyst.

ECB: two increases in interest rates by July?

Then, announces no increase in interest rates Tuesday, the U.S. central bank has kept the pressure on the dollar."As a result, the euro is doomed to remain on high levels," said Franklin Pichard. A very bad news for European exports, but Nicolas Forest, relativized. "Conversely, a higher euro also makes it less salty invoice for companies importing oil."

For the first time since the inception of the currency area in 1999, the European Central Bank should raise its interest rates before its American counterpart. An unprecedented situation when we know that the ECB is often follower in this field. "The ECB wants to show his independence vis-à-vis the Fed and especially put pressure on European states. It's the return of monetary orthodoxy, "says Nicolas Forest.For the manager of Dexia AM is also a consequence of paris have been taken by various United States has relied on growth and Europe who bet on reducing deficits.

While analysts expect another rate rise in ECB interest by July, his strategy is the right one? "It's hard to say if the ECB raises interest rates too early or if the Fed does too late. Their mandates are different. What is certain is that the U.S. will sooner or later also take measures to monetary and fiscal restraints, "says Nicolas Forest. In June, the measures to support the economy must end. Financial markets could then anticipate a rise in interest rates by the Fed. And the euro and would go back down.

Analysts had forecast a conservative for the year 2011 China. The least we can say is that this is a euphemism, if one believes the figures released Saturday by the Chinese Premier. Enjoying a meeting with users at the China Forum on the Internet, Wen Jiabao set a growth target of 7% per year for five years as part of its Five Year Plan (2011-2015).

Even if this economic downturn was more or less expected, experts do not expect certainly that this goal is less ambitious than the 8% that Beijing has used to determine. In these difficult times where soaring oil prices could threaten global growth, it is obviously not good news for the economy in general and for French and European companies which derive a large part of their sales in China.

Call for protests

But now the priority for Beijing and all the other capitals is no longer emerging growth but the fight against inflation. Including rising food prices, housing and basic necessities. "The rapid rise in prices in China has affected social stability," Wen Jiabao said at the forum, which is reassuring. So much so that the Chinese were expected to gather every Sunday in thirteen cities in China to 14 hours local time (7:00 am Paris time) to ask for more open government and freedom of expression.

"The only risk is concern that China is social unrest," said the figaro.fr, Astrid Fredericksen OFI AM. At the time when the country was about to realize a growth of 10.3%. "You can undoubtedly contain inflation," Wen Jiabao tried to reassure."The Chinese leadership is very proactive and know better manage bubbles than their American counterparts." Says Xavier Linsenmaier, manager at Acropole AM.

"A rising yuan would bankrupt many companies'

On the yuan, China has made the revitalization of domestic demand as a priority, the country is necessarily interested in that trade are increasingly denominated in yuan. And therefore the currency appreciates. But conversely if too strong, it would penalize exports. Premier Wen Jiabao has once again swept the critics of western countries who believe the Chinese currency is undervalued and gives China an unfair advantage by boosting its exports."A substantial increase in the Chinese currency would lead to bankruptcy or closure of many businesses, the loss of orders from other countries for foreign trade companies, and unemployment for many workers in addition to our migrant workers," Has he said. According to the U.S. Treasury, the Chinese currency has appreciated 3.7% against the dollar between mid-June to late January. It is not enough, answered his critics, who deem the yuan undervalued by 20% to 40%.

This economic slowdown in China more than expected and the rise of social protest could well benefit the United States or Europe. "Investors are starting to shift away from emerging markets. The risk profile of these markets resurfaced, "said one analyst.

After three consecutive down sessions, the Tokyo Stock Exchange rebounded, and closed in the green this Friday: the Nikkei 225 index rose 0.71% to 10,526.76 points, taking advantage of courses Oil downward trend in electronic trading in Asia. They fell back under $ 100, after the organization of petroleum exporting countries (OPEC) would be ready to intervene, dealers said in case of supply disruptions. What ease jittery investors since the beginning of the week on soaring crude prices.

On the whole week, the Nikkei has still lost 2.91%, sealed at a meeting Tuesday to Thursday by the rising price of black gold.

Note the progression of Toyota, which accounts for 2.04%, after announcing the recall of 2.17 million cars on the market to correct problems amércain carpet that can block the gas pedal. This procedure relieved investors, concerned about the ongoing investigation conducted by the U.S. authorities on the Japanese manufacturer, which should end with this recall pay day loans.

Same relief to the Stock Exchange of Hong Kong, where the voltage drop on the price of black gold allows the Hang Seng index advancing 1.7% to 22,990 points

For its part, the stock market of China was struggling to find a clear direction, but also reflected a positive color after a hesitant start of the session. CSI300 index rose 0.42% to 3204.26 points.

Same story on other Asian stock markets, the KTX100 advance of 0.46% to 4186.19 points, the S & P / ASX 200 by 0.57% to 4836.50 points, the BSE Sensex 30, 0, 51%, to 17,723.20 points. The biggest increase returns on the FTSE Straits Times of Singapore, which accounts for 1.13%, to 3006.74 points.

Despite the declines of tension over oil, the yen rose against the euro and the dollar. The greenback was worth 81.91 yen Friday morning as against 82.46 yen yesterday. The euro also declined against the Japanese currency at 113.02 yen against 113.37 yen late Wednesday.

This is one of the last players on the French toy market. Jemini – which manufactures and distributes soft toys, small furniture and accessories for children to color Spiderman, Dora the Explorer, Winnie the Pooh and Barbapapa – goes into high gear. A year after merging with another business sector, Spel, it will go public next February 24 (Thursday). The group, which displays several years growing at double digits, yesterday announced Monday it has raised € 6.8 million private placement as part of its forthcoming entry on the Alternext market, where it will initially be valued more 38 million euros.

The aim of the group that conducted last year 40% of its turnover (about 37 million euro) for exports, is to accelerate external growth, particularly internationally.Sylver Amouyal, president of Jemini, acknowledged having "several cases in the pipeline, the European companies from 5 to 10,000,000 euros in turnover. Great Britain, where the contract of the license is 1.5 times higher than in France, is among his targets.

Jemini is unknown if the general public, its products are essential in supermarkets and specialists in the toy. Including at Conforama where Jemini is distributed over a year. Since its inception in 1986, the group has focused on the manufacture of soft toys, tableware, watches and furniture licensed around thirty characters.This market, driven by the small and big screen, now represents one quarter of toy sales in France.

Rattles pharmacy

"Jemini was one of the first to get Hello Kitty at the right time, with a true reflection on the offer to create," says Natalie Chouraqui, who co-directs Kazachok specialist license. Meanwhile, with more than 30 million euros in turnover, the small Japanese Sanrio cat became the first license in the toy. Anxious to mix new and "good value" Jemini just signed with the beneficiaries of the Smurfs will be back on center stage next year in a feature film. Jemini also sign lint Maya the Bee come back rejuvenated in 2012.

Known for the design and quality of its products, Jemini designs its prototypes in his studio in the Sarthe and has them made in China.The group now wants to convince its know-how to another distribution channel, the pharmacists, long wary of toy manufacturers. Rattles, dinner and door-nipples have been successfully tested in hundreds of outlets. The cub Lulu Castagnette be among the group of new licenses. Jemini expects its range of childcare up to 12 million turnover within three years.

While agriculture provides 10% of gross national product of Thailand, it supports more than 50% of the workforce. And soaring commodity prices, with sugar prices to the highest since 1980, whose product is the second largest exporter behind Brazil, benefit him directly.

While wheat and corn have made 50% last year at the Chicago Stock Exchange, rice, of which Thailand is the largest exporter in the world, stayed away from soaring prices. It's over, he won 10% in January, led by General runaway food prices.

As a result, the country, which registered a decline of 2.3% of GDP (gross domestic product) by 2009, has returned to growth last year, showing a rebound of 7.8% which exceeds the average other countries in the region.He had not reached such a figure for fifteen years.

In the last quarter of 2010, consumption grew 3.8% over the same period of 2009, manufacturing output rose by 4.8% and investment rose 6.4%. Better, in January, Thai exports have gained 22.3%. They could be up 15% over the entire first quarter.

The government, which provides a stabilization of the country's growth between 3.5% and 4.5% this year, not only benefits from higher prices of agricultural products. Tourism is gone. Thailand welcomed 15.7 million visitors in 2010.

The red shirts were not disarmed

Similarly, the automobile, with 1 low interest personal loan.7 million vehicles produced last year, contributing more to its expansion.It now represents 11% of its GDP and all major Japanese brands are there, Mitsubishi, Nissan, Toyota. Thailand is now the fourteenth largest producer of cars.

Only downside, the country's political situation, which hampers its economy. Despite the cease-fire signed earlier this month with Cambodia, the border clashes that have claimed dozens of lives since the beginning of the year continues. And inside the country, the "red shirts" who have occupied Bangkok between March and May 2010, before being dislodged by the forces of order, with more than 90 deaths in the key, not disarmed .

Layers from both rural and urban disadvantaged population, they continue to show regularly in the capital.The Thailand Board of Investment, real spearhead economic government abroad, increased the missions, the United States, Canada, Japan. But he fails to convince. Last year, foreign investments declined in value by 32% in Thailand. Only the Japanese to have spent more than they had done the previous year.

Only now, the early parliamentary elections, promised by Prime Minister Abhisit before next June, will no doubt bring lasting stability which the country has the greatest need to regain the confidence of businessmen.

The business capital, Shanghai, and the new metropolis of the Great West, Chongqing, the two cities are designated by the Chinese government to test the property tax in the country.

Now, in these two cities, homeowners will pay between 0.4% and 1.2% of the value of their apartment when buying a second home. The tax, which could bring 250 million yuan (16.6 million) in the municipality of Chongqing, is less to curb soaring property prices to fight against the growing housing vacancy in China . It could be gradually extended to all countries already warns the Ministry of Finance.

Last year, house prices recorded in 70 major Chinese cities rose 6.4%, a figure that worries the government wants to "control speculative buying."Indeed there are many Chinese who see real estate as an opportunity to invest more than financial benefit. They buy, not to resell but to stay with comfortable gains.

The government, which decided last week to increase by 50% to 60% the minimum personal contribution to purchase a second home, while only 30% for the first multiplies measures to calm the market.

In some cities, families can already buy a second home as if they had permanent homes. Everywhere, fiscal policies were tightened and banks are encouraged to increase their interest rates on buying a second apartment instant payday loan.A new binding rules must also be released in April on the real estate brokerage.

"Affordable" housing

In reality, the state would accelerate the construction of housing at affordable prices to the general population in the hope that it will succeed in stopping the soaring property prices.

Premier Wen Jiabao, making it one of the priorities of government policy for this year. He urged banks to increase their number of loans in this area. They jumped 32% last year, but still represent only a very small share of total loans in real estate. But China, to meet housing needs, should build no less than 10 million apartments this year.A figure more than not when we know that in 2010 only 5.9 million homes considered "affordable" have sprung up.

In Beijing alone, the government promises to "build or buy 200,000 flats (…), half of them will be occupied at the end of the year." But he can not demand anything. Even the new property tax launched in Shanghai and Chongqing largely eluded him. Indeed, the two cities, such as those to be chosen later, keep the choice of rates charged.

ALSO READ:

"85% of Chinese can not afford housing

"The housing bubble is worsening in China

U.S. stock markets opened without great conviction, on Monday. The Dow Jones evolves to equilibrium, gaining 0.01% and the Nasdaq rose 0.18%. The NYSE has taken a break this weekend has ended in a disorganized Friday, despite the good results published by the two heavyweights of the American side, General Electric and Google.

On the foreign exchange market, the euro downward trend against the dollar, within the scope of profit taking after a new high for two months. By mid-afternoon in Paris, the euro traded at 1.3606 dollars against 1.3611 dollars on Friday night.

On the macroeconomic front there is no major indicator on the agenda of U.S. investors on Monday.Investors across the Atlantic as their European counterparts, should be particularly careful on Monday, the speech of the head of the French state, which reveals that Monday morning at the Elysee's objectives for the G8 summit in late May at Deauville and the G20 early November in Cannes.

United States, the news will be much busier in the coming days. Among the highlights of the week, investors await Tuesday particular number of new home sales for the month of December and the same day, after the close of Wall Street, the monetary policy decision of the Federal Reserve and the speech of President Barack Obama on the State of the Union. "The American President could make proposals to reduce the U.S. budget deficit, without affecting its reform of the health system," which would reassure the market, analysts have estimated Aurel BGC.Last week, ratings agency Standard & Poor's was worried about the lack of real political will of the United States to reduce their debt.

On the corporate side, Wall Street investors expect another round of results.

Mc Donald's: 0.09% to 75.08 dollars

The giant U.S. fast food McDonald's on Monday issued a profit in 2010 increased 9% to $ 4.9 billion, driven by rising sales in the world, and many said they started the year 2011.The group's turnover rose 4% year on year to 6.2 billion in the fourth quarter and 6% to 24.07 billion dollars over the whole year, as envisaged by the analysts.

Halliburton: -1.35% to 38.66 dollars

The U.S. oil services group Halliburton posted results that exceeded expectations in 2010, thanks to a strong recovery in activity in North America, and expressed optimism for 2011, due to sustained demand for oil. The net profit jumped 60.26% to 1.835 billion dollars compared to last year, with an increase of 22.47% of its turnover to 17.973 billion dollars compared to 2009.It is also better than forecasts of analysts, who expected 17.68 billion.

Sanofi Aventis Genzyme extends tender offer

Sarah Lee: 1.23% to 18.93 dollars

Always on the side of values, the U.S. food giant Sara Lee this week will consider offers to purchase multiple buyers including Apollo Management Group, Bain Capital. The Board of Sarah Lee will also explore the possibility of separating its business into two entities meats and coffee.

Genzyme: -0.11% to 71.50 dollars

For his part Sanofi extended until 15 February 2359 New York City time, on its offer Genzyme U.S. but against all expectations, it has not changed for the second time, the terms of its proposal.Thus, the pharmaceutical company still offers $ 69 per share in the U.S. biotech, or 18.5 billion dollars in total, and does not, at present, complementary arrangement.

Genoptix: 25.81% to 24.86 dollars

Also in the pharmaceutical sector, the Swiss laboratory Novartis launched on Monday a friendly takeover of the U.S. Laboratory Genoptix, specializing in the diagnosis of cancer. Novartis offers a prize of $ 25 per share, representing an amount of $ 470 million for all shares.This offer represents a premium of 27% on the value of Genoptix at the close of January 21, 2011.

Also note, the Chinese state bank ICBC, first in the world by market capitalization, has signed an agreement to enter the retail banking market in the United States becoming a majority in the U.S. subsidiary of Bank of East Asia, reported on Saturday The Wall Street Journal.

Toyota: 1.05% to 82.87 dollars, General Motors: 0.91% to 37.58 dollars

In the automotive sector, the Japanese manufacturer, Toyota announced Monday it had sold 8.42 million vehicles in 2010. It remains ahead of the American General Motors, despite the wave of recalls of cars, but competition is increasing.